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Facebook: Proceed With Caution

Summary

On Wednesday there were two potentially bearish indicators for Facebook. The first, noted by Karl Eggerss, was a potential double top in the stock.

The second, noted by SqueezeMetrics, was a 3.4x spike in the volume of dark pool shorting of Facebook shares.

We elaborate on both indicators and present two ways for Facebook longs to add downside protection.

Two Reasons For Facebook Longs To Be Cautious